AGCO (NYSE:AGCO) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other research firms also recently commented on AGCO. UBS Group reduced their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Truist Financial raised their price objective on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer lowered their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. BMO Capital Markets assumed coverage on shares of AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $114.40.

AGCO Stock Up 1.0 %

AGCO stock opened at $98.43 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $96.49 and a 200-day simple moving average of $97.76. The company has a market capitalization of $7.35 billion, a P/E ratio of 43.54, a PEG ratio of 0.55 and a beta of 1.25. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business earned $3.97 earnings per share. AGCO’s revenue was down 24.8% on a year-over-year basis. On average, equities research analysts predict that AGCO will post 7.34 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. AGCO’s dividend payout ratio is presently 51.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AGCO. Brooklyn Investment Group acquired a new stake in AGCO in the third quarter worth about $29,000. LRI Investments LLC acquired a new stake in shares of AGCO in the 1st quarter worth approximately $30,000. Blue Trust Inc. boosted its holdings in shares of AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.